Generally considered the most popular form of market research, this research method has the objective of providing an accurate description for something that is occurring (e.g., monthly sales volume, customer preference).
Represents customer purchase decisions that result in a customer making unplanned purchases often due to marketer’s promotions (e.g., coupons, in-store demonstrations) or product placement strategies (e.g., product located at checkout lane).
A form of promotional price adjustment that offers a product at a price considered to be lower than the normal selling price such as temporary sale pricing and lower pricing intended to remove extra inventory.
A strategic approach in which an organization attempts to get the most from its resources by following a planned procedure for identifying customers who possess the greatest potential to respond to the marketer’s efforts and help the marketer meet objectives.
Factors considered outside the control of marketers but that potentially influence marketing decision-making and include demographics, economic conditions, governmental environment, influential stakeholders, cultural and social change, innovation and competitors.